Credit market debt helps explain slow recovery

In my Dec. 2, 2011 column, I declared that the Northern Colorado economy was growing again. The graphic that accompanied the column showed that our economy bottomed out in the summer of 2010. My Index of Economic Growth, published in the Jan. 13 issue of the Business Report showed this same bottom but also showed that the trend line bottomed at the end of 2009. Our economy has been growing for two years now.

Recent prognostications are almost unanimous that our economy will continue to grow, although at a slow to moderate pace. I’m currently in the moderate-or-greater-growth camp but check…